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Wednesday, 25 May 2016

Carney hits back at critics during Treasury address, stands by ‘remain campaign’

Bank of England Governor Mark Carney was noticeably annoyed as he addressed accusation that he was adopting the same “propaganda” as the Treasury. He made no apology for comments that Brexit could trigger a recession, telling MPs “there was also a risk to mortgage rates even if the central bank cut its official interest rate,” according to the FT (paywall). Carney’s response when asked whether former employer Goldman Sachs Group encouraged him to warn of Brexit risks? “Wow. I refute it categorically and I am stunned to even have it raised.” The GBP was seen gaining in the first time in three days on the news and the results of a recent poll showing the leave campaign is losing ground.

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